Cadence Bancorp LLC
Industry: Financial Services
Investment Date: July 2010
Headquarters: Houston, TX
Cadence is a bank holding company established to acquire and operate failed or distressed U.S. banks. The bank currently has approximately $7 billion in assets and 100 branches across six states with a significant presence in Texas.
Platform began focusing on regional bank investments in 2008, believing the financial crisis created a historically attractive time to invest in banks. We reviewed a number of opportunities over a two year period. Given the lack of control required by bank holding company regulations, it was critical that we partner with a trusted management team to execute the strategy. Platform has a long-standing relationship with Paul Murphy (CBC’s CEO) and Marc Shapiro (CBC Board Member) and, as a result, CBC offered Platform an opportunity to invest in a targeted industry with executives that we know well and respect.